Compliance transformation: How new challenges are driving change

The compliance function has evolved over time; from working in organizational silos, with little to no cross-functionality across other business lines, to a change to the current state of cross-functional teams collaborating on key compliance and risk initiatives.

Now, new and unforeseen challenges are driving changes to the current state model:

• Financial markets are changing at pace, they are data-enabled, high-volume, digitally delivered and increasingly tailored
• Regulators are raising a warning flag about lack of investment in compliance technology and capability
• The COVID–19 pandemic is producing new and unforeseen challenges, including conduct and large-scale, rapid digital transformation

Speakers:

• Sajedah Karim, Partner, Financial Services Risk, London, Ernst & Young LLP
• Michel Grummel, Partner, Financial Services Risk, EY Advisory Netherlands LLP
• Stuart Crotaz, Partner, Banking & Capital Markets Conduct and Compliance, Ernst & Young LLP
• Kara Cauter, EMEIA Capital Markets Consulting Partner

Learning outcomes

• The changing environment of conduct and behaviors
• How the shift in working remotely will affect compliance and conduct
• Recent challenges affecting firms’ culture and the modern compliance function
• Cost agenda
• The future of the compliance function
• How data and technology will fit into a firm’s compliance strategy in the future

For your convenience, the full text transcript of this podcast is also available. Read the transcript.